Dogecoin News Today: Bit Origin Allocates $10M to Dogecoin in $500M Bet on Meme Coin's DeFi and Micropayment Potential

A former Chinese pork processor now rebranded as Bit Origin has unveiled a bold shift into the crypto space, allocating $10 million to acquire 40.5 million Dogecoin (DOGE) tokens at an average price of $0.2466 per coin. This move represents the first phase of a broader $500 million initiative to diversify its corporate treasury with digital assets, blending equity and convertible debt financing. The company’s pivot from food production to cryptocurrency mining and now strategic crypto holdings reflects a growing confidence in altcoins like Dogecoin as tools for financial innovation.

Founded as a pork business, Bit Origin entered Bitcoin mining in 2021 and fully abandoned its food industry ties by 2022. Its mining operations included a partnership with MineOne Partners in Wyoming, though a U.S. national security review led to a facility shutdown due to proximity to a military site. CEO Jinghai Jiang, who previously led MineOne, has since steered the firm toward a crypto-centric model, with Dogecoin now at the center of its treasury strategy. The firm’s latest purchase establishes a direct stake in the meme-inspired token, which the CEO argues is evolving beyond its “joke coin” origins to serve practical functions in decentralized finance and micropayments.

Jiang’s rationale hinges on Dogecoin’s unique characteristics: low transaction fees, rapid block times, and a growing ecosystem of developers working on tokenization projects. These attributes, he claims, position DOGE as a more scalable option for everyday transactions compared to Bitcoin, which dominates corporate crypto strategies. By linking shareholder value to the coin’s performance—via an initial DOGE-per-share ratio of 0.691—Bit Origin is effectively betting on widespread adoption of its utility. The firm’s management also highlights Dogecoin’s cultural appeal and global liquidity as advantages that could accelerate its integration into payment systems and DeFi platforms.

While the move underscores a strategic pivot toward speculative growth over traditional cash flows, it introduces notable risks. Dogecoin’s price volatility and inflationary supply model—where new coins are minted regularly—could erode the firm’s stake over time if the coin’s value does not rise sufficiently. Unlike Bitcoin’s deflationary design, DOGE’s supply increases perpetually, potentially diluting the firm’s holdings unless adoption outpaces issuance. The company’s $500 million capital facilities offer flexibility for future investments, but the success of this strategy will ultimately depend on Dogecoin’s ability to prove its utility beyond speculative trading.

Bit Origin’s transformation—from mining to a crypto-focused treasury—reflects the evolving landscape of corporate engagement with digital assets. By aligning its financial interests with Dogecoin’s development, the firm is positioning itself as a key player in the coin’s ecosystem. However, the broader market will scrutinize whether this high-stakes bet pays off. If Dogecoin gains traction as a viable micropayment tool or DeFi asset, the firm’s early investment could yield significant rewards. Conversely, a lack of adoption or regulatory headwinds may test the resilience of this unconventional strategy. For now, the acquisition serves as a clear signal: Bit Origin is not just mining crypto but actively shaping its future through direct investment and advocacy.